Every year I publish The Bainbridge Report, my yearly in-depth review of the Bainbridge Island real estate market. And this year we set three records on Bainbridge!
The process of selling a home undoubtedly brings a range of emotions to light. Some are exciting, you are proud that your home is looking its best and looking forward to making your next move. But others, are difficult. It can be sad to say goodbye to a place we’ve called home and to weather the storms that offers and negotiation sometimes bring.
Market data from the fourth quarter of 2017 indicates that Bainbridge Island continues to attract buyers, as the number of homes sold was up slightly from Q4-2016 despite a sharp 32.9% inventory decrease. Fierce competition paired with a lack of inventory is driving up prices, as the median sales price rose 14.8% to $972,000.
Now that we have officially moved into the new year, many homeowners are considering how to revamp their homes. Whether it’s a simple spruce up with a few statement pieces or an extensive design overhaul, it can be difficult to know where to begin. If you’ve been thinking about making some changes to your home in the coming year, look no further than an article the Huffington Post recently shared, which outlines their top trends for 2018, and provides a great starting point for making changes to your home’s interior.
We are just days from the start of the New Year, and now that President Trump has signed sweeping tax reform legislation into law, many homeowners and potential buyers are wondering how it will impact the real estate market in Washington state. In addition to talking to your tax advisor, the National Association of Realtors recently released reports on how the bill will affect each state, while The Washington Post looked more broadly at the general impact, from 1031 exchanges and recovery rules to mortgage interest deductions.
It’s hard to believe winter is here on Bainbridge Island. Yet despite the shorter days and chill in the air, there is still plenty of fun to be had amidst frosty harbor views and the twinkle of holiday lights. Whether we’re sipping a delicious hot cocoa at Blackbird Bakery or enjoying unforgettable local wines at the Island’s wineries and boutique tasting rooms, winter is a favorite time of year. To celebrate the start of the season, we put together a calendar featuring a few upcoming events and activities on the Island that are not to be missed.
The Sotheby's Realty website is a treasure trove of beautiful homes and sometimes I get lost looking at all the incredible places around the world, dreaming about the possibilities. I found myself looking at comparable price points to Bainbridge Island and found some interesting getaways I would like to share.
One of the hot topics in real estate has been the increase in mortgage rates since the inauguration of President Donald Trump; with 30-year mortgage rates increasing from 3.5 percent pre-election to a national average of 4.2 percent on January 5th, 2017. Although this was a scare for potential home buyers, there is good news.
A shocking statistic recently caught my attention, “The Seattle area has grown by more than 1,000 people per week since 2010.” For reference, that “area” mentioned does include Tacoma and Bellevue. Pulling out just Seattle numbers and the population rate is still very high. In Seattle proper, between 2010 and 2016, the population grew about 250 people per week.
Realogics Sotheby’s International Realty has recently released their 2016/2017 Market Report which examines the year-over-year performance of 24 markets that the brokerage serves, factors that have affected the Western Washington housing market this past year, and insight on where the market is heading in 2017.